KJT offers annuities, both tax-deferred and not tax-deferred.  Annuities are designed to guarantee an annuitant a steady stream of income in retirement. 

• Flexible Premium Deferred Annuity
• Traditional IRA
• Roth IRA
• KJT Kapital Account

 

Flexible Premium Deferred Annuity

A flexible premium deferred annuity (FPDA) allows for premiums to grow on a tax-deferred basis until the time of withdrawal of premiums.  Tax deferred earnings allow one to make interest on principal, interest on interest earned, as well as interest on monies that would generally be paid in taxes to the IRS.  

FPDA features

• Contributions made with after-tax money
• Tax deferred earnings
• Flexible contribution and withdrawal options
• Initial $750 minimum contribution
• No annual management or service fees
• KJT Withdrawal penalties in first seven years
• Withdrawals taken prior to age 59 1/2 generally subject to 10% IRS tax penalty
• KJT 10% free withdrawal annually¹
• Nursing home waiver²
• Hospital waiver³

Traditional IRA

Our traditional IRAs are funded by using our Flexible Premium Deferred Annuity.  A traditional IRA can be a valuable retirement savings tool to enhance other retirement plans and other financial resources.  IRA holder must have earned income in order to make current contributions.  Can be used for most retirement plan rollovers and IRA transfers.

IRA features

• Tax deductible contributions (subject to earning limitations)
• Tax deferred earnings until withdrawn (under current tax law)
• Initial $2,000 minimum contribution
• No annual management or service fees
• KJT Withdrawal penalties in first seven years
• Withdrawals taken prior to age 59 1/2 generally subject to 10% IRS tax penalty
• Normal required minimum distribution (RMD) rules apply at age 70 1/2
• KJT 10% free withdrawal annually¹
• Nursing home waiver²
• Hospital waiver³

 Roth IRA

Our Roth IRAs are funded by using our Flexible Premium Deferred Annuity.  A Roth IRA can be a valuable retirement savings tool to enhance other retirement plans and other financial resources.  IRA holder must have earned income in order to make current contributions.  Can be used for most Roth retirement plan rollovers, Roth IRA transfers, and IRA conversions.

Roth IRA Features

• Contributions are not tax deductible
• Tax deferred earnings (under current tax law)
• Tax free distributions (subject to Roth IRA qualification rules)
• Initial $2,000 minimum contribution
• No annual management or service fees
• KJT Withdrawal penalties in first seven years
• Withdrawals taken prior to age 59 1/2 generally subject to 10% IRS tax penalty
• No required minimum distribution (RMD) required
• KJT 10% free withdrawal annually¹
• Nursing home waiver²
• Hospital waiver³

KJT Kapital Account

The KJT Kapital Account provides members an opportunity to contribute flexible premiums into the account at any time.  New money can be added at any time.  The account is a non-qualified, non-tax deferred plan whose earnings will be taxed as ordinary income on an annual basis.

KJT Kapital Account Features

• Contributions are not tax deductible
• Earnings treated as ordinary income and will receive 1099INT annually
• Initial $750 minimum contribution
• No annual management or service fees
• KJT Withdrawal penalties in first five years
• No required distributions necessary
• KJT 10% free withdrawal annually¹
• Nursing home waiver²
• Hospital waiver³

 

¹ Annuitant can withdraw up to 10% of the account balance after each certificate year without a KJT penalty (If applicable, IRS tax penalty still applies).

² KJT will waive the early withdrawal penalty if the rest home care stay is finalized for the annuitant (If applicable, IRS tax penalty still applies).

³ KJT will waive the early withdrawal penalty if annuitant is hospitalized for 7 or more consecutive days (If applicable, IRS tax penalty still applies).